In the simplest terms possible, one can define a bank as a financial institution which accepts deposits from the public and, in return, gives credit whenever required.
Now, different banks have rules and regulations for their customers with different interest rates. Customers choose those banks which provide a decent interest rate with established rules and regulations. Some of the main public sector banks in the world today are of import to the discussion.
Below given are the top 10 largest and best public sector banks of the year 2017-2018
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10. Credit Agricole Group
This is one of the French banks in the list, and it has a total balance of assets of $1.91 trillion. This bank has a great history of helping farmers anytime. The bank is a family member of 39 French bank. The bank raised its holdings up to 87.6 % under DEO group.
9. Bank of America
As one of the best US banks, it offers services especially in the areas of personal banking and for small business as well as large sized business. One of the best parts of the bank is that it offers investment services along with its deposits as well as checking accounts. It has more than 5000 branches with total assets of $2.15 trillion. It has started offering loans to those who want to start their businesses.
8. Mitsubishi UFJ Financial Group
One of the best Japanese banks, it can be called an all-in-one bank because it offers the consumer, business, private, as well as investment banking. In addition, the bank offers asset management as well as real estate banking. The bank has total assets accounting to $2.459 trillion. It is the second largest bank in Japan and offers a dividend of 2.63%.
7. BNP Paribas
BNP Paribas has been ranked in the second position in the Eurozone, and it is a French bank which has more than 75 branches, including ones in the US. It has assets worth $2.4 trillion. In simple words, the bank is a key player in the field of finance.
6. JP Morgan Chase & Co.
The services which are provided by the bank mainly fall in investment services wherein customers who want to invest in some business or any other field can get the required amount of capital from the bank. There is also an asset management service provided by the bank. In addition, wealth management, as well as securities services, are also being provided by the bank to its customers. The bank has about $2.45 trillion as assets. At present, the shares of the bank trade at $ 84.52.
One of the banks in England which is having more than 6000 branches in different locations and different offices in more than 80 countries. If we talk about India, HSBC is one of the oldest banks which was formed. Seeing the branches present in India which is more than 50. The formation of the bank was in the year 1836. Talking about the main objective of the bank is to provide some top services like credit cards, internet banking, debit cards, loans as well as foreign exchange services and much more. Talking about its assets, it has over $2.57 trillion assets.
4. Bank of China
Talking about the services which are being provided by the bank is investment banking, insurance as well as investing services. Additional services are it provides a loan, credit card as well as debit cards services, montages, assets as well as liability management as well as insurance. Now if we talk about its assets which are around $2.63 trillion. According to the report in April 2017, the bonds were being sold by the banks in four currencies.
3. Standard Chartered Bank
Talking about the bank, it is one of the oldest as well as efficient banks in the country. The bank is customer friendly too as because the services provided by the bank are just great and customers just love having an account in this particular bank. The bank was established in the year 1969. Talking more about the bank if we see its history it has won the best bank award. The services are just same as the other banks.
2. CITI bank
Citi bank is also one of the oldest banks which was founded in the year 1902. The main motive of the bank is as same as any other bank – to provide world-class services to its customers so that their turnover can be increased. Addition to the bank is that it provides NRI services to its customers. The bank has great employees working which is more than 7500, and if we talk about its ATM there are over 750 ATM’S in every country, and some of them have more than that. Thus it is a good bank.
1. Industrial and Commercial Bank of China
It is one of the major banks in the world and has huge assets. Talking about its assets, it has about $3.62 trillion in total which is way more than other banks. Talking about the services, it provides loans, cards services and much more. In addition, the bank also offers money market vehicles, the opportunity of investing as well as exchange and transfer services.
These were some top 10 public sector banks in the world in descending order according to their ranking in the world. All the banks provide excellent services to its customers and to increase their turnover as well as increase their assets, all they need is a greater amount of attention to the provided services.
Talking about these public sectors banks which are just great in providing some of the top services to its customers so that they get attracted to having an account in these top class banks.
Thus we must say that customers should hold an account in any of these banks as they are not going to get these services in any other banks present in the world.